Submitted by Tyler Durden on 04/10/2016 21:15 -0400
One of the more significant, if largely underreported events from last Friday, was the Fed’s surprising announcement that it would conduct a closed meeting tomorrow, April 11, at 11:30am “under expedited procedures” during which the Board of Governors will review and determine advance and discount rates charged by the Fed banks.
This is notable because the last time such a meeting took place was on November 21, less then a month before the Fed’s historic first rate hike in years.
Moments ago things got even more interesting, when in yet another unexpected announcement, the White House said that both Obama and Joe Biden would meet with Janet Yellen on Monday to discuss the economy and Wall Street reform, the White House said late on Sunday. The meeting is expected to take place some time “in the afternoon.”
“In the afternoon, the president will meet with Federal Reserve Chair Janet Yellen to discuss the state of the American and global economy, Wall Street reform, and the long-term economic outlook; the vice president will also attend,” the statement said.
According to Reuters, the president and the Fed chair meet regularly to discuss economic issues. Still, one can’t help but wonder what will be said in these two back to back meetings, both of which will be closed to the public.In the meantime, we are confident numerous Fed speakers will explain how the Fed may or may not raise rates in the immediate future, unless it of course, does not, all depending on data which the Fed no longer cares about.
Sunday- April 10, 2016………54% haircut for depositors in first time ever Austrian bank bail-in from Zero Hedge.
This is how it is done, bail-ins are pulled off on Sunday and BTW they also spend the day cleaning out safe deposit boxes. Coming to a bank near you in the future.
Told her to lie and deny imo.
…less THEN a month before the fed’s…. Yikes! I notice this misspelling ‘then’ instead of THAN in many, many comments from US contributors, now it’s from a source that I imagined would not make such a basic error in written English. It really make the entire piece suspect when I see poor English.
Incidentally, I would personally be far more concerned about your Prez meeting the Fed BEFORE their Monday meeting than after it. Or should that read ..THEN after it??
QE4 or QEforever?
Some folks will be peddling fiction.
Be interesting to see how much real influence Obama has over the Fed, or vice versa.
Of course that would require secret meetings and discussions to be made public, and that isn’t going to happen.
Press releases are probably not going to reflect what actually took place.
Fed will do everything it can to elect the Democrat in the fall, as well as preserving Barky’s legacy of the stock market, which is the only thing liberals can point to as a success (even though the financial wealth is owned by the top 5%.) If Trump is elected, as the Fed usually does with a Republican president, they will normalize quickly. If Hillary is elected, expect the easy money to keep flowing.
What good can this meeting do? A top bankster talking with an economic illiterate buffoon.
According to Reuters, the president and the Fed chair meet regularly to discuss economic issues.
I do not believe this whatsoever.
He is going to tell her to prepare for a Clinton indictment and to act accordingly. We didn’t go to the moon and the twin towers were imploded.
Nice one overthecliff – you’re very succinct
I suspect we’re at that same moment in time (2008) where Paulson went to congress and called for emergency measures because the shit was about to hit the fan.
China and Japan the largest holders of US debt are not only no longer buying out debt, but are in the process of dumping it.
Shits about to get real.
Do you have enough cash on hand?
Suzanna, love your posts and comments. FYI, These types of meetings have been happening for a long time, off and on. The sometimes have photo ops and/or media videos. They sometimes get mentioned on CNBC and Bloomberg TV.
It may be something big, as overthecliff and ASIG speculate, or it may be some sort of progress/policy review. The market reactions may tell us something…